The price band for the IPO has actually been set in between Rs 233 and Rs 245 per share.
NDTV Profit News
Crizac Ltd., a service provider of student recruitment services to education business, released its going public on July 2 to raise over Rs 850 crore.
The mainboard concern opened to a weak need from financiers on Wednesday. The IPO was subscribed just 46% on the very first day of bidding.
Despite the soft response so far, the grey market premium for the public issue gotten on Wednesday.
Crizac IPO GMP Today
The most current grey market premium (GMP) for the Crizac IPO was Rs 31 per share as of 1:34 p.m. on July 3. The most current GMP shows a listing rate of Rs 276 apiece at a premium of 12.65%, compared to the ceiling of the price band.
The GMP has basically doubled considering that the IPO opened for subscription on Wednesday. It was Rs 21 on July 2 and later on climbed to Rs 32 before ending day 1 at Rs 39 per share.
Note: GMP does not represent official information and is based upon speculation.
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About Crizac IPO
The Crizac IPO is a book-building issue worth Rs 860 crore. It consists of a totally offer-for-sale of 3.51 crore shares. The cost band for the IPO has actually been set between Rs 233 and Rs 245 per share.
Retail financiers can get involved in the IPO by bidding for a single lot size of 61 shares, requiring a financial investment of Rs 14,213. Small Non-Institutional Investors need to bid for 14 lots, totaling up to an investment of Rs 2,09,230. Big Non-Institutional Investors can get involved by bidding for at least 67 lots, amounting to a minimum investment of Rs 10,01,315.
Of the 3,51,02,039 shares on offer, 70,20,407 (20.00%) are designated to QIB, 52,65,306 (15.00%) to NII, 1,22,85,714 (35.00%) to RII and 1,05,30,612 (30.00%) to Anchor financiers.
Investors can purchase the IPO till July 4. The allotment of Crizac shares is proposed to be done on July 7. Successful bidders will get shares in their demat accounts on July 8 and refunds for non-allottees will be processed on the same day.
Shares of Crizac are tentatively arranged to be noted on the BSE and NSE on July 9.
Equirus Capital Pvt. is the book-running lead supervisor of the Crizac IPO. MUFG Intime India Pvt. is the registrar for the concern.
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Use Of Proceeds
The company will not get any funds from the IPO as it's totally an offer-for-sale.
About Crizac Ltd.
. Crizac is a B2B education company. It is in the service of providing trainee recruitment services to worldwide institutions of greater education in countries such as the UK, Australia and Canada. It was incorporated in 2011.
Disclaimer: Investments in going publics undergo market threats. Please speak with financial advisors and read the red herring prospectus thoroughly before putting quotes.
